EXHIBIT 10.06 Driveway Corporation 1997 Stock Option Plan Notice of Stock Option Grant We are pleased to inform you that you have been selected by Driveway Corporation (the "Company") to receive the following Option to purchase Common Stock of the Company. The terms of the Option are as set forth in this Notice, the attached Stock Option Agreement and the Company's 1997 Stock Option Plan (the "Plan"): Name of Optionee: Chris Logan Total Number of Shares Granted: 1,172,714 Type of Option: Incentive Stock Option Exercise Price Per Share: $0.14 Date of Grant: July 30, 1999 Vesting Commencement Date: June 14, 1999 Vesting Schedule: This Option may be exercised immediately, in whole or in part, subject to the Company's right to repurchase shares acquired on exercise, which right shall lapse in accordance with the following schedule: 2.0833% of the shares subject to the Option will vest one month after the Vesting Commencement Date and an additional 2.0833% of the shares subject to the Option shall vest after Optionee completes each full month of continuous employment or service thereafter; provided however, ---------------- that immediately prior to a Corporate Transaction (as defined in the Plan) in which the Company or stockholders of the Company receive as consideration in connection with such Corporate Transaction (as defined in the Plan) cash, securities or other assets (i) valued in excess of $75 million, then 25% of the portion of the then outstanding options that are not at that time vested shall become vested; or (ii) valued in excess of $250 million, then 50% of the portion of the then outstanding options that are not at that time vested shall become vested. Expiration Date: July 29, 2009 By your signature and the signature of the Company's representative below, you and the Company agree that this Option is granted under and governed by the terms and conditions of the Plan and the Stock Option Agreement, both of which are attached to and made a part of this document. OPTIONEE: DRIVEWAY CORPORATION /s/ By: /s/ - ---------------------- ---------------------- Chris Logan Title: Kent Jarvi - ---------------------- ---------------------- Print Name